141 Subsidiary acting as authorised dealer in securities
Companies Act 2006 | Legislation

Subsidiary acting as dealer in securities

141  Subsidiary acting as authorised dealer in securities

(1)     The prohibition in section 136 (prohibition on subsidiary being a member of its holding company) does not apply where the shares are held by the subsidiary in the ordinary course of its business as an intermediary.

(2)     For this purpose a person is an intermediary if he—

(a)     carries on a bona fide business of dealing in securities,

(b)     is a member of or has access to a [UK regulated market], and

(c)     does not carry on an excluded business.

(3)     The following are excluded businesses—

(a)     a business

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